PROPOSAL UPDATE

JPMorgan Emerging Mkts Invest Trust
16 December 2005



                       LONDON STOCK EXCHANGE ANNOUNCEMENT



                 JPMORGAN EMERGING MARKETS INVESTMENT TRUST PLC

                       ('JPM EMERGING' OR 'THE COMPANY')



                              UPDATE ON PROPOSALS



At an extraordinary general meeting of the Company on 8 December 2005, the
Chairman sought and received Shareholder approval for an adjournment of the
meeting until 16 December 2005 to provide further time to assess the outcome of
the reconstruction scheme being proposed by F&C Emerging Markets Investment
Trust plc ('F&C Emerging'), in which it is proposed that the Company participate
by issuing New Shares.  The adjournment was made necessary because a significant
shareholder in F&C Emerging had indicated to F&C Emerging that it intended to
dissent from the Scheme.



F&C Emerging has now announced that it has received valid dissents from the
Scheme, pursuant to Section 111 of the Insolvency Act 1986, in respect of 13.8%
of its issued share capital.  F&C Emerging has been advised that, as a
consequence of this level of dissent, the amount of monies that must be retained
in the liquidation fund to be created by F&C Emerging's liquidators would not
make it possible for the Scheme to be implemented in the manner described in its
circular and on the basis upon which F&C Emerging Shareholder approval was
sought and obtained.  Accordingly, the board of F&C Emerging believes it has no
choice but to exercise its discretion under the terms of the Scheme in not
proceeding with the Scheme.



The Board therefore announces that it has sought and has received Shareholders'
approval for an adjournment sine die of the Company's Extraordinary General
Meeting which was reconvened for 9.30 a.m. on 16 December 2005.



The board of JPM Emerging considers this to be a regrettable outcome given the
high level of support the Scheme had received from shareholders in both
companies.  The major shareholders in F&C Emerging were consulted by both
parties regarding the Scheme in advance of the Scheme being announced and again
before the Scheme documentation was published.  No F&C Emerging Shareholder,
including the dissenter, stated during these consultations that they would
oppose the Scheme.  Indeed holders of over 40% of the F&C Emerging Shares
indicated their intention to vote in favour of the Scheme.



As a result of the failure of the Scheme, F&C Emerging is in a position of
uncertainty; a well supported scheme (which provided for JPM Emerging's
participation on competitive terms, including a substantial contribution to the
Scheme from JPMorgan Asset Management (UK) Limited) has been frustrated and
further costs will need to be incurred in resolving F&C Emerging's future.  This
is disappointing.




The board of F&C Emerging has announced that it will continue to consider all
options available to that company and will write to F&C Emerging Shareholders in
the new year. The Board may be prepared to put JPMorgan Emerging forward again,
particularly as so much support was given for its participation in the Scheme.





16 December 2005



For further information, please contact:



JPMorgan Emerging Markets Investment Trust plc

Roy Reynolds, Chairman, tel. [phone]

Robin Archibald, Winterflood Securities, tel. [phone]



JPMorgan Asset Management (UK) Limited

David Barron/Simon Crinage, tel. [phone]



Fishburn Hedges

Andy Berry, tel. [phone]





Terms used in this announcement shall, unless the context otherwise requires,
bear the meaning given to them in the circular to the Company's shareholders
dated 15 November 2005.




                      This information is provided by RNS
            The company news service from the London Stock Exchange            FIFLLRLIE